Atlantic Edge Private Wealth Management LLC Sells 5,890 Shares of DTE Energy (NYSE:DTE)

Atlantic Edge Private Wealth Management LLC reduced its stake in shares of DTE Energy (NYSE:DTE) by 90.0% in the fourth quarter, Holdings Channel reports. The fund owned 655 shares of the utilities provider’s stock after selling 5,890 shares during the quarter. Atlantic Edge Private Wealth Management LLC’s holdings in DTE Energy were worth $79,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in shares of DTE Energy during the 3rd quarter valued at approximately $30,000. Ashton Thomas Securities LLC bought a new position in DTE Energy in the 3rd quarter worth approximately $35,000. Prospera Private Wealth LLC bought a new position in DTE Energy in the 3rd quarter worth approximately $35,000. Versant Capital Management Inc boosted its holdings in DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after buying an additional 267 shares during the period. Finally, Coastline Trust Co bought a new position in DTE Energy in the 3rd quarter worth approximately $39,000. 76.06% of the stock is owned by institutional investors.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $123.63 on Tuesday. The firm has a market cap of $25.60 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68. DTE Energy has a 12-month low of $103.06 and a 12-month high of $131.66. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 1.76. The company’s fifty day simple moving average is $120.91 and its two-hundred day simple moving average is $122.84.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s payout ratio is currently 59.08%.

Analysts Set New Price Targets

Several research firms recently commented on DTE. Scotiabank raised their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. Jefferies Financial Group started coverage on shares of DTE Energy in a research note on Monday, October 21st. They issued a “hold” rating and a $137.00 target price on the stock. Guggenheim upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. BMO Capital Markets increased their target price on shares of DTE Energy from $135.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and an average target price of $136.25.

DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.